A Gleiss Lutz team has advised ZF Friedrichshafen AG on its sale of 50 per cent of shares in ZF Chassis Modules GmbH to Foxconn. ZF Chassis Modules is a unit of ZF Group which bundles the assembly of passenger car axle systems and has an enterprise value of approximately EUR 1 billion.
ZF and Foxconn have agreed on a 50/50 partnership to further grow their market opportunities and to open new perspectives for Foxconn in the automotive sector. The joint venture agreement will take effect following regulatory approvals.
ZF Chassis Modules is serving global premium and volume car manufacturers and is represented at 25 locations in various countries all over the world. The unit has approximately 3,300 employees worldwide. The business unit’s turnover is expected to exceed EUR 4 billion in 2023.
In-house, the transaction was handled by a team led by Dr. Jan Eckert (General Counsel), Dr. Gerd Hagena (Assistant General Counsel), Jannik Ratzke (Legal Counsel) and Dieter Eckhardt (Head of Corporate Development and M&A).
The following Gleiss Lutz team of lawyers led by Dr. Ralf Morshäuser (partner, Munich), Dr. Patrick Mossler (partner, Hamburg) and Dr. Moritz Riesener (Munich, all M&A) advised ZF Friedrichshafen AG: Prof. Michael Arnold (partner, Corporate, Stuttgart), Dr. Tobias Falkner (counsel, Munich), Jan Philipp Mohr (counsel, Hamburg), Dr. Antonius Mann (Frankfurt), Dr. Stephanie Dausinger (Munich), Meike Matthias, Dr. Michael Knierbein (both Hamburg), Maximilian Leisenheimer, Julia Wohlmuth (project associate, both Frankfurt, all M&A), Dr. Silke Hoffmann (Corporate, Stuttgart), Dr. Johann Wagner (partner), Dr. Markus Günther (both Tax, both Hamburg), Dr. Jacob von Andreae (partner), Aylin Hoffs (both Foreign Trade, both Düsseldorf), Dr. Eva Reudelhuber (partner, Banking & Finance, Munich), Dr. Matthias Karl (partner), Dr. Philipp Pichler (counsel), Dr. Daniela Drixler (all Competition/Antitrust, all Stuttgart), Dr. Jens Günther (partner, Munich), Dr. Steffen Krieger (partner, both Employment, Düsseldorf), Dr. Matthias Werner (counsel), Dr. Sebastian Girschick, Felizitas Casper (all IP, IT and Commercial, all Munich).
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